https://www.taxtmi.com/caselaws?id=378716 The Tribunal ruled that interest income earned on short-term deposits from equity contributions during the construction phase should be capitalized against capital work-in-progress and not taxed as "Income from Other Sources." The decision was based on the funds being inextricably linked to the project setup, aligning with precedents such as Indian Oil Panipat Power Consortium Ltd. The Tribunal reversed the lower authorities' findings, allowing the assessee's appeal for the Assessment Year 2008-09. en-us Fri, 15 Mar 2019 00:00:00 +0530 Fri, 19 Apr 2019 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378716 The Tribunal ruled that interest income earned on short-term deposits from equity contributions during the construction phase should be capitalized against capital work-in-progress and not taxed as "Income from Other Sources." The decision was based on the funds being inextricably linked to the project setup, aligning with precedents such as Indian Oil Panipat Power Consortium Ltd. The Tribunal reversed the lower authorities' findings, allowing the assessee's appeal for the Assessment Year 2008-09. Case-Laws Income Tax Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378716